Litecoin Whales Arrived Just In Time For Upcoming LTC Rally?

Litecoin News: Amid Bitcoin’s (BTC) six month high price and speculation for a potential altcoin rally, the crypto market is also going through the regulatory hurdles especially in the US. However, the surprise crypto rally in January 2023 showed that the traders defied the odds coming from the FTX collapse and related ripple effects. However, a section of traders with deep altcoin bags appear to still be cautious of taking an entry in the current scenario. This is gradually unfolding as big whales continue to reactivate their assets, in what could be in anticipation of profit making opportunities. Does this mean the crypto winter is finally behind us?
Also Read: Current Bitcoin ($BTC) Rally Is Historically Different; Here’s How
Litecoin Whales Among Biggest
In an interesting coincidence, the LTC price drop in last few hours came in parallel with huge accumulation of the altcoin. According to WhaleStats, Litecoin is currently among the top 10 purchased tokens by 100 top Binance Smart Chain (BSC) whales in the last 24hrs. More importantly, the current price level at $95 could be a good base to gain strength for a rally to $110, which is inevitable, according to Kong Trading.
At the current level, LTC price is at an eight month high range of $93 to $100. As of writing, LTC price stands at $94.97, down 3.06% in the last 24 hours, according to CoinGape price tracker.
Also Read: Here’s What You Need To Know About Blur’s Upcoming Season 2 Airdrop
- Just-In: Changpeng “CZ” Zhao Counters Peter Schiff, Says “Tokenizing Gold Is Not On-Chain Gold”
- $240 Million Hacked Crypto Exchange WazirX Reopens Deposits But Faces Community Backlash
- Expert Flags Pi Network Team as Source of Selling Pressure After Reported 1.2M PI Dump
- Ripple’s Chris Larsen Expands XRP Realized Profit to $764M Amid Evernorth Deal
- Just In: Hyperliquid Strategies Eyes $1B Capital Raise, Plans HYPE Token Accumulation
- XRP Price Classical Pattern Points to a Rebound as XRPR ETF Hits $100M Milestone
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing